On CNBC's “Mad Money Lightning Round,” Jim Cramer said GigaCloud Technology GCT is an e-commerce play that he just doesn't know enough about. He needs to do more work on that one.
On March 15, GigaCloud Technology reported better-than-expected fourth-quarter FY 2023 earnings and issued 2024 guidance. Revenue rose 94.8% Y/Y to $244.7 million, beating the consensus of $224.2 million, led by higher market demand for large parcel merchandise.
“It never really does anything. I think its stuff is kind of overpriced, but you do get that yield,” Cramer said when asked about Movado Group MOV. “I feel it's neither here nor there at that price.”
On March 26, Movado reported fourth-quarter adjusted earnings per share of 55 cents, beating the analyst consensus of 39 cents. Quarterly revenue of $179.62 million beat the street view of $174.80 million. The company generated a gross margin of 53.9% as compared to 56.2% in the fourth quarter of fiscal 2023.
When asked about NuScale Power SMR, Cramer said go buy GE Vernova Inc. GEV. “I don't want you to lose any money,” he added.
NuScale Power is scheduled to host a conference call to review first-quarter results on Thursday, May 9. Analysts expect the company to report a quarterly loss at 13 cents per share on revenue of $8.26 million.
Price Action:
- Movado shares rose 0.4% to settle at $26.30 on Thursday.
- GigaCloud Technology shares gained 1.3% to settle at $36.36 during Thursday's session.
- NuScale Power shares climbed 7.1% to close at $5.89 on Thursday.
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